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2015/04/25

Japan’s Robot Army

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Japan's Robot Army

By Jocelynn Smith, Sr. Managing Editor

Japan has found a way around its dwindling demographics, which are leading to the country's economic collapse.

Hire more robots.

Earlier this week, Mitsukoshi department store introduced shoppers to Aiko Chihira, a humanoid robot developed by Toshiba who is programed to greet shoppers and give directions in Japanese as well as in Japanese sign language. While Aiko can only provide information from a script, she is going to be upgradable.

In addition, NAO has started appearing in banks. The multilingual robot is being used to help answer customer questions, particularly during the 2020 Olympics.

Finally, a new hotel in Japan is slated to open on July 17, 2015 with 90% of the hotel's services handled by robots. From check-in to carrying your bags to cleaning, robots will be doing the heavy lifting. What's more, a single room is expected to price at $60 per night and $75 for a double, which is cheaper than other nearby hotels that have humans as staff.

These developments should send a chill through many Americans who are demanding a higher wage. As profit margins are squeezed by rising wages and consumers prove unwilling to pay increasing prices for goods, many business owners are likely to take a hard look at introducing more automation and scaling back expensive, inefficient human workers.

Regards,

Jocelynn Smith,
Sr. Managing Editor, Sovereign Investor Daily

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